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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 114082
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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Any ideas how to get a private mortgage agreement settled

Customer Question

any ideas how to get a private mortgage agreement settled when owner owes back taxes?
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 5 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

The only real way to do this is either you or the seller have to pay those back taxes. If the seller cannot pay, then the buyer is entitled to reduce the sale price to reflect payment of those taxes so the sale can be completed in the clear.

So, you need to either get the seller to pay or you as buyer would deduct the amount of taxes from the purchase price and pay the taxes and you need to give the seller the option. If the seller refuses either option that is grounds to void the contract or terminate the contract with them without penalty.

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